Printer Friendly

AMERICAN RELIANCE GROUP, INC. RESPONDS TO AMERICAN STOCK EXCHANGE CONCERN IN RISE OF ACTIVITY, PRICE OF ITS COMMON STOCK ON NOV. 19, 1992

 LAWRENCEVILLE, N.J., Nov. 19 ~PRNewswire~ -- In response to questions from the American Stock Exchange, Inc. concerning the unusual increase in volume and price of its common stock, American Reliance Group, Inc. (AMEX: ARI), Senior Vice President and Chief Financial Officer Dennis M. Bandish stated, "We cannot give any explanation for the increased activity and rise in price of our common stock," and he further reaffirmed the comment from the Nov. 16, 1992, press release where the company disclosed that, "the company has received expressions of interest for potential transactions from a number of parties. The company has entered into discussions with certain of those parties which the company believes have sufficient financial and reinsurance capacity and the ability to complete a transaction in a reasonable period of time. However, there can be no assurance that a transaction will be completed with any of these parties."
 American Reliance Group, Inc., a property and casualty insurance holding company, specializes in providing insurance coverage in New Jersey, Florida, Pennsylvania, Delaware, Maryland and Virginia to small to medium-size businesses and individuals located primarily in rural and suburban locations.
 ~delval~
 -0- 11~19~92
 ~CONTACT: Bruce W. Herrick, chairman and president, or Dennis M. Bandish, senior vp-finance of American Reliance, 609-896-1921~
 (ARI)


CO: American Reliance Group, Inc.; American Stock Exchange, Inc. ST: New Jersey IN: INS SU:

LJ-EF -- PH055 -- 3078 11~19~92 16:14 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 19, 1992
Words:232
Previous Article:BG&E CELEBRATES GRAND OPENING OF LAUREL LAKES APPLIANCE & HOME ELECTRONICS STORE
Next Article:TIME IS RUNNING OUT TO APPLY FOR PGW'S RESIDENTIAL PARTS & LABOR PLAN
Topics:


Related Articles
AIG DECLARES COMMON STOCK DIVIDEND
AMERICAN INTERNATIONAL GROUP ANNOUNCES INCREASE IN QUARTERLY COMMON STOCK DIVIDEND
ACOI INSURES POSITION ON EMERGING COMPANY MARKETPLACE AT THE AMERICAN STOCK EXCHANGE
AMERICAN INTERNATIONAL GROUP DECLARES QUARTERLY COMMON STOCK DIVIDEND
RELIANCE ANNOUNCES PUBLIC OFFERING OF COMMON STOCK AND DEBT
AMERICAN INTERNATIONAL GROUP, INC. DECLARES QUARTERLY COMMON STOCK DIVIDEND
AMERICAN ANNUITY GROUP, INC. COMMENCES RIGHTS OFFERING
PTAC Announces $60 Million Convertible Note Issue
American International Group, Inc. Declares Quarterly Common Stock Dividend
Penn Treaty Announces Offering of Convertible Subordinated Notes

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters